Hhgregg has been expanding beyond consumer electronics into other categories. CEO Dennis May said the company plans to offer more appliances, furniture, fitness equipment and other home products.

"Video and consumer electronics remain important to us, but we plan to increase our focus on these other large home products," he said in a statement.

Net income for the fiscal third quarter ended Dec. 31 fell 23 percent to $17.4 million, or 51 cents per share. That compares with $22.5 million, or 60 cents per share, during the same period in the prior year. Excluding one-time items, the company made 52 cents per share, matching analysts' expectations, according to FactSet.